Aridis Pharmaceuticals drops to record low on $25 mln share offering plan

Aridis Pharmaceuticals

20/01/2022 13:20

** Shares of biopharma co  ARDS.O  down 5.67% at a record
low of $1.33 premarket 
    ** Co says it may offer and sell shares worth up to $25 mln
at-the-market price https://bit.ly/3GHwOXI from time to time 
    ** Net proceeds, if any, from this offering to be used for 
working capital and general corporate purposes, including
research and development
    ** Co has ~14.05 mln shares outstanding worth ~$19.82 mln,
as per Refinitiv data
    ** All the four brokerages covering the stock rate it "buy";
their median PT is $15.50 

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))